Manning & Napier Advisors LLC Makes New Investment in TotalEnergies SE Sponsored ADR $TTE

Manning & Napier Advisors LLC bought a new stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 90,877 shares of the company’s stock, valued at approximately $7,067,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC grew its position in TotalEnergies by 151.0% in the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock valued at $4,364,000 after acquiring an additional 40,586 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of TotalEnergies by 2.1% in the 1st quarter. Empowered Funds LLC now owns 40,988 shares of the company’s stock valued at $2,652,000 after purchasing an additional 835 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of TotalEnergies by 17.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company’s stock valued at $315,000 after purchasing an additional 774 shares during the last quarter. Russell Investments Group Ltd. increased its position in TotalEnergies by 14.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock worth $1,490,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Invesco Ltd. increased its position in TotalEnergies by 7.3% during the 2nd quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock worth $12,168,000 after purchasing an additional 13,536 shares in the last quarter. Institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Performance

Shares of TTE stock opened at $89.46 on Tuesday. The firm has a 50 day moving average of $83.16 and a 200-day moving average of $85.15. The company has a market cap of $214.51 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.13. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17.

TotalEnergies (NYSE:TTE) last issued its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The business had revenue of $57.10 billion for the quarter. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 10.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on TTE shares. Piper Sandler reaffirmed a “neutral” rating and set a $85.00 target price on shares of TotalEnergies in a research note on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating on shares of TotalEnergies in a research note on Tuesday, May 12th. Weiss Ratings upgraded TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. TD Cowen boosted their price objective on TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, CICC Research started coverage on TotalEnergies in a research report on Tuesday, June 23rd. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and a consensus target price of $87.14.

TotalEnergies Company Profile

TotalEnergies SE (NYSE: TTE) is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.